GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
LLOYDS BANKING GROUP PLC ORD 10P, MX OIL PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
For what has been an area of resistance for quite some time and still holding, an amount of sellers are waiting in this area still, and if the dollar is to stay weakened against the Swiss France then again this zone could still hold and expect another downturn in price.
I sold USDCHF from 9980. USDCHF correlates well with GOLD since Switzerland has 25% of it's reserves made up of Gold. If Gold is down in value, USDCHF will go up. Since Gold has bounced from the 1260 area and I think it will come back up, I see USDCHF heading down to 98.
GBPCHF could be forming a flat corrective pattern.
It has made the (3-3)-5 structure so far and has made the first wave of the 5 wave structure.
If the 5 waves are made it would confirm the flat.
The fist wave has been coupled with a correction which I expect to terminate at the 61.8% retracement.
Following a break of this short term trendline it would confirm ...
After multiple retests and a fall breakout around 0.68400 we can expect a new bullish trend towards 0.71000.
ChfJpy Daily chart - I see price trading in a bullish wedge/flag consolidation pattern on daily chart but the main trend is bullish so I am anticipating a break out and a bullish impulsive move on this pair over the coming weeks.
1.1550, a key level that the pair has been dancing either side of since august. A break in it could prove fatal or present an opportunity to get in with the bulls at 1.1500 . Confidence appears high, but new highs were recently made so we may not see it surpass the blue trend line without a substantial correction to the downside.
Usdchf - Daily time frame - Longs in play on dollar strength and bullish structure on usdchf daily time frame
OBSERVATION: After hitting monthly resistance price fell to daily support which confluences with the ascending trendline that has been acting as support since June. A break below could see price drop to 0.74400s then 0.73400s while a bounce will see prices rise back to resistance.
CHFJPY long opportunity
usdchf short trade
Strong support/resistance level test
Pin bar rejection
R2 Pivot point Rejection
61.8 Fib Retracement
EURCHF had a fake upwards breakout and completed a reverse pattern at such a significant level. The possibility of price dropping is high, but it may not be that easy as last few candles are quite strong. Keep watching this pair for short opportunities in the coming week.